Strategic Human Resource Management (SHRM) is an approach to managing human resources that aligns HR practices and policies with the strategic objectives of an organization. In other words, it is the process of linking the HR function with the strategic goals and objectives of the organization.
Human resource accounting is a type of accounting that focuses on measuring the value of a company’s human resources, such as its employees, in financial terms. The basic idea behind human resource accounting is that a company’s workforce is a valuable asset, just like its physical assets, and should be accounted for in a similar manner.
Human resource management is the organizational function that manages all the issues related to the people in an organization. That includes but is not limited to compensation, recruitment, and hiring, operation management, organization development, security, wellness, benefits, employee encouragement, communication, policy administration, and training.
Enterprise Resource Planning (ERP) is a software-based process used by companies to manage and integrate core operations like finance, HR, supply chain, procurement, supply chain, services, manufacturing, etc.
Manufacturing Resource Planning (MRP II) is a technique for the effective planning of all manufacturing resources of a company. It enables manufacturers to develop a precise production schedule for the future that minimizes expenses and maximizes the utilization of available resources.
In the last few decades, resource management has become a very crucial part of modern business structure. This area is quite a bit mature. An array of novel ideas has been introduced ever since it started growing. Resource management has appeared as an independent discipline after organizations became complex with matrix structure and extended in multiple geographies.
Strategic Financial Management (SFM) refers to the process of aligning financial decision-making with the long-term strategic goals of an organisation. It’s not merely about managing numbers, it’s about using financial insight to drive sustainable growth, enhance value, and maintain competitive advantage.
Keiretsu are a hallmark of Japan’s corporate landscape. It is a tightly knit network of businesses bound by mutual interests and lasting partnerships.
Organizational communication is the flow of information within a company, both formal and informal. It encompasses how employees share ideas, updates, and instructions with each other, as well as how the organization communicates its goals and mission to its workforce. Effective communication is crucial for any organization’s success.
Departmentation is the process of breaking down an enterprise into various departments.
